Krafton IPO expected to raise $3.75bn

PlayerUnknown's Battlegrounds owner and holding firm Krafton announced that its initial IPO offering is likely to raise 4.3 trillion won ($3.75 billion).

Krafton is expected to go public around August 10.

This is nearly 25% lower than it stood earlier this month and was cut after a regulator said it needed to revise its filings, according to Reuters. Even so, the site reports this will be the second largest South Korean IPO to date.

Krafton said that it will use some of its funding for global mergers and acquisitions. Additionally, it aims to expand its PUBG IP via new games alongside media such as film and animation.

The company applied for IPO in April and was valued at $17.9 billion at the time by analysts.

In recent business ventures, Krafton had acquired chat platform Thingsflow in June.

Earlier this year, PUBG Mobile was reported to have generated $5 billion in lifetime player spending.